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IT Update

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Sebi may call parties involved in hostile bids

In an unprecedented move, the Sebi is mulling the option of calling all parties involved in the 10 hostile bids which Corporate India has seen since the takeover code came into play, to make the takeover regulations more realistic and in tune with the times.

Gulf banks make hay while IMD shines

India Millennium Deposit scheme collection war has taken an ugly turn in the Gulf with foreign banks, through their agents, doling out cash incentives to depositors in their bid to collect funds and thus gain access to cheap rupee resources.

Total mopup to cross $4.5 bn

Despite the absence of participation by the US market, the total mobilisation of State Bank of India's India Millennium Deposit scheme by will exceed the Resurgent India Bonds' $4.23 billion when it closes on Monday.

UTI to launch exchange-traded SUNDER fund

After gaining experience in managing index funds, the UTI is now launching a novel "exchange-traded fund" where the units of the open-ended fund will provide an option for unitholders to convert them into underlying equity shares of top bluechip companies comprising the 30-share Sensex.

Industry unhappy with new Textile Policy

The organised mill industry feels completely disgusted, as the new Textile Policy, has virtually failed in making any serious effort to address its problems.

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Executive Briefings

bullet.jpg (687 bytes) WB chief arrives today, to meet PM, Sinha

bullet.jpg (687 bytes) Insat-2B likely to be abandoned, users will be shifted to other satellites

bullet.jpg (687 bytes) Centre may go slow on GIC ordinance

bullet.jpg (687 bytes) Petronet-LNG's commercial director quits

bullet.jpg (687 bytes) Domestic drug firms angry over plans to cut Cyclosporin import duty

bullet.jpg (687 bytes) Inflation rate falls for third consecutive week; deficit likely to go up


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